Releases

Press Releases
http://www.sec.gov/news/press.shtml

Rulemaking
http://www.sec.gov/rules.shtml

No Action Letters, Staff Accounting Bulletins, Staff Legal Bulletins
http://www.sec.gov/interps.shtml

Reports

Special Studies
http://www.sec.gov/news/studies.shtml

Annual Report of the SEC
http://www.sec.gov/about/annrep.shtml

Rulemaking Releases

• The agency may begin the rulemaking process by issuing a concept release.
   
• The agency may skip this process and instead issue a proposed rule.
   
• Concept releases and proposed rules are put out for notice and comment.
   
• After the notice and comment period on a proposed rule, the agency generally issues a final rule.
   
• Rules and releases appear in the Federal Register

Release Identification

Under the securities laws, the Commission can bring enforcement actions either in the federal courts or internally through an administrative proceeding. For federal court cases, the agency issues a "litigation release" to announce the filing and resolution of each lawsuit. Litigation releases always begin with the letters "LR" (for example, LR-12345). For administrative proceedings, there are four general types of releases:

• Press releases are numbered beginning with the year followed by a sequential number: 2004-1, 2004-2 …
   
• Rule releases have a 2-character prefix that tells which law the rule primarily involves:
  • 1933 Act: 33-12345
  • 1934 Act: 34-12345
  • 1935 Act: 35-45678
  • 1939 Act: 39-23456
  • 1940 Investment Company Act: IC-12345
  • 1940 Investment Advisers Act: IA-12345
  • There maybe several act numbers assigned to a single release
• A notice of institution and/or settlement of administrative proceedings, which will have a sequential number containing 2-digit prefix that tells you which securities law the defendant allegedly violated (e.g., IA-1234, 34-1234);
   
• An initial decision by an administrative law judge (ALJ) in a contested case, which will have a sequential number (e.g., Initial Decision No. 1234 or ID-1234);
   
• A notice that an ALJ's initial decision has become final, which will have a new and different sequential number containing the 2-digit prefix (e.g., IA-5678, 34-5678); and
   
• A Commission order or opinion on appeal from an ALJ's initial decision, which will have another new and different sequential number with the 2-digit prefix (e.g., IA-91011, 34-91011).